Foxtel subscriber growth hits a bump

By AdNews | 9 May 2024

Foxtel reported a drop in subscriber growth in the March quarter as the media group spent less on marketing but launched its streaming solution to app hopping, Hubbl.

Total closing paid subscribers at the end of March fell 1% to 4.5 million, driven by fewer residential broadcast subscribers and fewer BINGE subscribers.

Revenue fell 5% to $US455 million. However, 4% of that was caused by a strong US dollar.

The impact from fewer residential cable subscribers was mostly offset by sports streaming service Kayo with increases in both volume and pricing. Revenue from BINGE benefited from an increase in pricing.

Streaming revenue represented about 29% of total circulation and subscription revenues in the quarter compared to 26% in the same quarter last year. 

Broadcast subscriber churn in the quarter was 13.3%, up from 12.3%, driven by a recent price increase. Broadcast average revenue per user was up 2% to AUD85.

Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) of $US69 3 million increased 1%, mainly due to lower marketing, entertainment programming rights and technology costs.

However, Foxtel spent $US13 million on the launch of Hubbl in the quarter.

March quarter 2024: 

foxtel march quarter 2024 via News Corp

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